Euro-region output growth slows awaiting QE effect

Frankfurt

GROWTH in euro-area manufacturing and services slowed in April in a sign that bond purchases by the European Central Bank (ECB) will take time to revive a fragile recovery.

A Purchasing Managers Index (PMI) for both industries fell to 53.5 from 54 in March, London-based Markit Economics said on Thursday. While the reading remains well above the 50-point mark that divides expansion from contraction, it is below the 54.4 forecast by economists in a Bloomberg survey.